The Decline of the CPM Ad Model and the Need for Innovation

Most of the challenges facing media come down to misaligned incentives. Publishers face a bad set of options to serve the competing interests of advertisers and the audience while keeping the lights on. The horror show of UK news sites is a sign of things to come. Publishers and platforms have long had misaligned incentives, as games studios are belatedly finding out, while companies are struggling to balance the incentives of workers, management and shareholders.

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